Victory Capital Management Inc. Acquires 87,688 Shares of Apollo Global Management, Inc. (NYSE:APO)

Victory Capital Management Inc. raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 32.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,707 shares of the financial services provider’s stock after purchasing an additional 87,688 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Apollo Global Management worth $33,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Cambridge Investment Research Advisors Inc. increased its stake in Apollo Global Management by 3.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,215 shares of the financial services provider’s stock valued at $3,161,000 after purchasing an additional 1,334 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Apollo Global Management by 2.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 95,478 shares of the financial services provider’s stock valued at $8,570,000 after purchasing an additional 1,860 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Apollo Global Management by 20.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,874 shares of the financial services provider’s stock valued at $617,000 after purchasing an additional 1,170 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Apollo Global Management by 10.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,082 shares of the financial services provider’s stock valued at $13,741,000 after purchasing an additional 13,885 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Apollo Global Management during the 3rd quarter valued at about $1,178,000. 77.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total value of $55,720,000.00. Following the sale, the insider now owns 44,104,773 shares in the company, valued at $4,915,035,903.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total value of $55,720,000.00. Following the sale, the insider now owns 44,104,773 shares in the company, valued at $4,915,035,903.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Zelter sold 150,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the completion of the sale, the insider now owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,426,000 shares of company stock worth $158,226,960 over the last quarter. Insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods raised their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Barclays dropped their price objective on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.31.

Apollo Global Management Trading Up 1.8 %

Apollo Global Management stock opened at $111.48 on Tuesday. The stock has a market cap of $63.34 billion, a P/E ratio of 12.35, a PEG ratio of 0.92 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. Apollo Global Management, Inc. has a 1 year low of $59.89 and a 1 year high of $117.15. The firm’s 50 day moving average price is $111.12 and its 200-day moving average price is $100.34.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. The firm had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 20.77%. On average, equities analysts predict that Apollo Global Management, Inc. will post 7.43 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.463 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.66%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.05%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.